Through T-wallet, citizens can make payments to government and private organisations towards various services but also receive the benefits from government like pensions, scholarships and MGNREGS wages.

The transaction can make Mobikwik the second unicorn from India’s fintech industry after Alibaba-backed Paytm and indicates a revival of venture capital funding after valuation plunged in the past year.

MobiKwik was founded in 2009 by Bipin Preet Singh and Upasana Taku. It has so far raised $70 million funding from Sequoia Capital, American Express, Tree Line Asia, MediaTek, GMO Payment Gateway, Cisco Investments, and Net1

Since law dictates that alcohol cannot be bought or sold on digital channels, HipBar has created an e-wallet that facilitates offline payments of liquor, even though one is essentially paying for it online.